Friday, June 3, 2022

Random Update Of The Whistler Pipeline -- June 3, 2022

From NorthAmericanPipelines, May 9, 2022: Whistler Pipeline Expansion to move forward.

  • MPLX LP, WhiteWater Midstream and a joint venture between Stonepeak Infrastructure Partners and West Texas Gas Inc have reached FID -- no word yet whether President Biden will sic the FERC on them;
  • expansion: from 2 billion cf/d to 2.5 billion cf/d through the planned installation of three new compressor stations
  • to be in service by September, 2023
  • Whistler pipeline:
  • 450 miles; 42 inches in diameter -- that's a huge pipeline
  • natural gas from the Waha Header in the Permian Basin too Aqua Dulce, Texas
  • provides direct access to South Texas and export markets
  • an 85-mile, 36-inch diameter pipeline connects with the Midland Basin

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The Soccer Page -- An Update

The Texas Shootout. Accepted teams.

Texas Shootout ranking. 

Olivia's team is participating in the three-day Texas Shootout Tournament in Houston, TX, this weekend where only the best of the best teams are invited to play.

This is a "showcase" event. Scouts will be there looking for talent for college programs.

Overall, across all age groups and including both men's and women's teams, I estimate 200 teams are in the tournament. In Olivia's age group, there are 34 women's teams from across the nation:

  • Arkansas
  • California - North
  • California - South
  • Colorado
  • Florida
  • Hawaii
  • Louisiana
  • Mississippi
  • New Mexico
  • Nevada
  • Oklahoma
  • Texas - North
  • Texas - South

They played their first game this afternoon.

Drum roll.

Olivia's team won: 10 - 0. They played a Texas team from College Station, TX, Challenge 06 Aggieland.

Electricity Rates Across The States -- Random Update -- June 3, 2022

It's been absolutely fascinating to follow the electricity rates across IOS-NY and ISO-NE over the past few weeks. 

Let's see how that data is being reflected at Choose Energy: average residential electricity rate in the US is 13.83 cents per kilowatt-hour (kWh).

These are the latest figures available, from February, 2022, and the change in percent is from one year ago, February, 2021.

So, again, US average: 13.83 cents /kWh: up 3.6% from a year ago.

Of the 50 states, only one state had a rate less than 10 cents/kWh: North Dakota. 

The most expensive is an outlier:

  • Hawaii: a basket case; 38.15 cents; up a whopping 17.95 from last year

The rest:

Most expensive, to least expensive, selected states; in bold red: New England and New York:

  • Connecticut: 26.48 cents; hates pipelines, up a whopping 16.7% from a year ago
  • Rhode Island: 25.69 cents, up 6.6% from a year ago 
  • California: 25.59 cents; up 13.6% from last year;
  • New Hampshire: 22.15 cents; hates pipelines; up a whopping 14.9% from last year
  • New York: 21.58 cents; hates pipelines; up a whopping 14.9% from last year
  • Maine: 20.95 cents; hates pipelines; up an incredible 29% from last year
  • New Jersey: 15.77 cents; down 3.7% from last year
  • Pennsylvania: 14.48 cents; lots of natural gas, up 10.7% from a year ago
  • Texas: 12.28 cents, down 3.6% from a year ago
  • North Dakota: lots of coal, 9.64 cents; lots of coal, up 1.9% from a year ago
And, so far, knock on wood, the grid in Texas is "holding."

Week 22: May 29, 2022 -- June 4, 2022.

Top story of the week:

  • Joe Biden is still president.

Top international non-energy story:

Top international energy story:

Top national non-energy story:

Top national energy story:

Top North Dakota non-energy story:

Top North Dakota energy story:

Geoff Simon's top North Dakota energy stories:

Bakken economy:

Commentary:

Friday -- COB -- Time To Go Clubbing -- With Or Without Masks -- June 3, 2022

Nice way to end the day:

  • President Biden will fly all the way to Saudi Arabia to beg them to increase production after shutting down oil production in his own country;
  • WTI surges 3%; up $3.50; trading at $120.40
  • Brent surges 3%; up $3.70; trading at $121.30

Release the Kraken: in North Dakota, Covid-19 cases have jumped past 1,000 and several counties in the state have moved into the medium or high transmission risk categories -- The Bismarck Tribune.  

At this link, of the 50 states, North Dakota is ranked #47, just above South Dakota at #48, for overall severity of Covid-19. Number 49 and number 50 were Wyoming and Vermont, respectively. Let's take a look at the graphs for North Dakota: 


Meanwhile, over in Shanghai, China, with a population of 26 million, three new cases were identified. The government is considering whether to shut the city down again.

Oil -- What Else Would I Be Talking About! June 3, 2022

Look at this, what a surprise!

  • Brent: up 1%; up $1.19; trading at $118.80
  • WTI: up 1.1%; up $1.30; trading at $118.20 (later: $118.90 -- will we go over $119 today?)

But did you notice this: the Brent-WTI spread is narrowing; now only sixty cents

  • I have no idea why
  • US dollar stronger; all things being equal, WTI should be down

Is WTI at $118 affecting the oil stocks?

  • CVX: up a bit at $177, but still off its 52-week high of $181
  • MNRL: $32 -- I had not been watching; apparently broke through $32 earlier this week or last
  • DVN: up a bit, at $76.56 but off its 52-week high of $79

The EV companies:

  • two best:
    • TSLA: down $60; bad news outweighing the good news; not good
    • RIVN: down 4% despite surging oils
  • does this have anything to do with GM "slashing" Chevy Bolt prices?
    • F: down 3.4%; 50% off it's 52-week high
    • GM: down 3%
  • holy mackerel:
    • RIDE: down 7%
    • NKLA: down 6.6%
    • GOEV: down almost 6% 
  • will ELMS run out of cash in June?
    • ELMS: down almost 5% today, again, despite surging oil prices; down to 50 cents/share

Commentary:

  • China opening up: good for EVs
  • oil prices surging: good for EVs
  • TSLA talking about a split: good for EVs
  • windfall profits tax on oil: good for EVs
  • ESG: good for EVs
  • and, yet, EVs crashing today
  • what's going on?
  • I'm sure Jim Cramer has the answer but I don't watch CNBC any more and don't subscribe to his newsletter;
  • the energy transition story losing its MOJO?
  • investors want to see dividends?
  • but something is obviously going on with EVs today.

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The Sports Page

Huge game last night. This is going to be a great NBA series: Boston Celtics vs Golden State Warriors. Boston vs California.

Apparently Stephen A. had some comments re: Michael Jordan.

I missed it. Hope to catch it again, later.

There might be a better video out there regarding Stephen A. and Michael Jordan but for now: https://www.youtube.com/watch?v=epOIZmKM8cs.